Monday, August 3, 2015

Plum Finds $5M For Smart Outlets

Austin-based Plum, which is developing Wi-fi controlled and monitored plugs to help control a home's lighting, has raised $5M in a seed funding round. Plum said much of the funding came from crowdfunding, via CircleUp. Plum says it is developing products to let users control their home lighting systems from their smartphone, using a combination of smart power outlets and smartphone software. Plum is led by Utz Baldwin, who previously was head of connected home organization CEDIA. The company said it has so far participated in both the Techstars and Microsoft Ventures accelerator. Plum says it is continuing the seed investment round, and is looking for another $700,000 in the round.